Finally, a commercial tenant in the perennially plagued building at 1702 Avenue Z!
Studio 21 has opened on the second floor of the mixed-use structure, and the sign was placed last week, adding some much needed color to its otherwise cold facade.
Wondering what Studio 21 is? We were, too. We thought maybe it was the new name for the building, which would’ve been pretty damn funny because of how tacky – and how Sheepshead Bay – that would’ve been.
But, no, instead it’s an interior design and imported furniture business. They’ve been around for 17 years, according to their website, and Google lists their old address in Sunset Park.
Welcome to the neighborhood, guys, and best of luck. You’ll need it, considering your new home is managed by the same people selling “professional suits,” forgetting to install garages, locking people in during their open houses, and, generally, just scaring off other potential commercial tenants.
I go to real estate companies all the time when I need a professional suit. When I need a casual suit, I go to a pharmacist. My zoot suits are ordered exclusively from cell phone stores.
Oh, 1702 Avenue Z, how I love you so. The incompetence of the various people around you never fails to provide content for me. Today it’s this sign for professional suits – surely you meant suites – but there’s a whole history of fumbles that leaves me bewildered… and amused.
Sure, most recently it was the “Whoops! We forgot to build a garage!” that led to some impromptu sidewalk destruction and the removal of freshly planted trees. But you were screwing up long before that. There was the time we got locked in during your not-so-open open house, and that was just the first run of the new realtors – Dreamlife. And, of course, we can’t forget how bigger brokers abandoned you after a botched deal caused a prospective tenant to call it quits.
Thanks for the latest laugh. We’re looking forward to your next boondoggle.
Photo taken May 24, 2011
Man, don’t you just hate it when a developers try to sell their residential units based on amenities that don’t exist?
That’s why every time I passed by 1702 Avenue Z (on the corner of East 17th Street) for the past year or so, my eyebrows raised. Dreamlife Realty, a mysterious broker that took over after bigger names abandoned the project, posted a sign in one of the upper windows advertising “Indoor Parking.”
To which I asked, “Where?!”
Keep reading to find out what’s going on here.
The living room at the showroom apartment at Z Tower. (Photos by Ray Johnson)
Early this month, we told you that the newest luxury condo at 1702 Avenue Z had lost some of its major players.
A short while before that, when there was still snow on roofs, signs posted invited everyone to come on up to the fourth floor for an open house. Knowing that readers were interested in seeing the design of the apartments, I followed the instructions and headed up to take a look.
Read about these Sheepshead Bay condos and view more photos
Is 1702 Avenue Z cursed? It could be, because what once was among Sheepshead Bay’s glitziest properties now has signs of a downhill turn.
First of all, it’s almost a year behind the completion date of the building and work is still being done on the interior of East 17th Street and Avenue Z. Things started to look up in August, as the commercial broker, Massey Knakal Realty Services, told us they were closing a deal with a group of local doctors to use the entire office/retail space as a medical center. Then, in November, the posh residential units hit the market under the elite Corcoran name, with asking prices of more than $800,000.
Now, just a measly three months later, all the big boys have pulled out. The deal with the doctors fell through, and Massey Knakal is no longer representing the building. Similarly, The Corcoran Group has pulled the listing from its website.
Click to see broker's sign
The entire development – commercial and residential – is now represented by the mysterious Dreamlife Realty, for which we can find little information. Their website is dated 2008 and is notably blank and sets off anti-virus alerts. Similarly, a Google search for the agent – Olga Orak – reveals little more than she represents a few McMansions out in New Jersey.
So what’s the deal? What has made two of New York City’s biggest brokers turn tail and run for the hills? And will Little Miss Dreamlife Realty have the pull to market such a high-priced, mixed-use development?
I guess what I’m asking is: are these ever going to sell, or does something smell fishy in Sheepshead Bay?